When creating a fund through the Community Foundation, donors choose one or more type of funds(s). The “types” determine how charitable grants from income are distributed.
Donor-Advised Endowment and Flexible Funds
A donor-advised fund is a fund for which the donor and their family members make recommendations for grants, subject to the approval of the Foundation’s board of directors. Our most popular fund option, donor-advised funds provide maximum convenience and flexibility by enabling donors to address a wide variety of issues as their charitable interests and priorities change over time. The Foundation manages check writing, reporting, and paperwork. Many donors choose this type of fund to simplify their annual giving.
The Foundation offers two types of donor advised funds:
A donor who creates an advised fund can identify a successor or the organizations that the fund will continue supporting in the donor’s name after death. The Foundation’s stewardship ensures that the donor’s charitable intent is fulfilled in perpetuity.
Create a donor-advised fund when you have an active interest in supporting a number of causes and want to remain both involved and flexible in your charitable objectives. The donor-advised fund is also a good option if you want to involve future generations in family philanthropy. Because the Foundation handles all the administrative and reporting tasks, a donor-advised fund can simplify and streamline your charitable giving and record keeping.
The Foundation offers two types of donor advised funds:
- Flexible funds allow you to make grants, as long as you maintain a balance of at least $10,000. These funds will accrue investment returns, which can add to the amount available for grantmaking.
- Endowed funds are designed to continually grow charitable assets, thereby leaving a lasting resource for the community. Only a portion of the income earned on the fund’s assets is available for grantmaking each year, with the emphasis on growing the principal for long-term use. This choice is best for those whose philanthropic vision extends far into the future.
A donor who creates an advised fund can identify a successor or the organizations that the fund will continue supporting in the donor’s name after death. The Foundation’s stewardship ensures that the donor’s charitable intent is fulfilled in perpetuity.
Create a donor-advised fund when you have an active interest in supporting a number of causes and want to remain both involved and flexible in your charitable objectives. The donor-advised fund is also a good option if you want to involve future generations in family philanthropy. Because the Foundation handles all the administrative and reporting tasks, a donor-advised fund can simplify and streamline your charitable giving and record keeping.
Field of Interest Funds
A field of interest fund supports a broadly defined area such as the arts, the environment, health and wellness, or a more narrow interest, such as dental care for children of low-income families. Fund holders identify their area of interest and can participate in the grantmaking process or utilize the Foundation’s expertise to identify worthy grantees.
Creating a field of interest fund is best when you are passionate about a community issue and want the flexibility to support it in perpetuity, without necessarily committing your funds to a specific organization.
Creating a field of interest fund is best when you are passionate about a community issue and want the flexibility to support it in perpetuity, without necessarily committing your funds to a specific organization.
Unrestricted Funds
An unrestricted fund recognizes that a community’s challenges and opportunities will change. It provides flexible resources to support innovative responses. Fund holders entrust the Foundation with the selection of promising projects to receive grant funding through a competitive process based on community needs. As with all of the Foundation’s funds, distributions are made in the name of the fund or anonymously as requested.
Creating an unrestricted fund is best when you want your gift to have maximum impact on the community’s most pressing needs - now and forever.
Creating an unrestricted fund is best when you want your gift to have maximum impact on the community’s most pressing needs - now and forever.
Organizational Funds
An organizational fund is an endowed fund created by a nonprofit organization. An initial gift can establish a nonprofit fund that allows the principal to grow in perpetuity. Gifts of all sizes can be made to an existing endowment.
Placing endowment funds at the Community Foundation ensures the long-term stewardship and objective fiscal management of a nonprofit’s funds. It also frees nonprofit staff from the burdens of endowment management and reporting, so they can focus on fulfilling their mission.
More than 30 organizations have chosen to secure all or part of their endowment with the Community Foundation.
Placing endowment funds at the Community Foundation ensures the long-term stewardship and objective fiscal management of a nonprofit’s funds. It also frees nonprofit staff from the burdens of endowment management and reporting, so they can focus on fulfilling their mission.
More than 30 organizations have chosen to secure all or part of their endowment with the Community Foundation.
Designated Funds
A designated fund is a way to support specific nonprofits for generations to come. Many donors recognize their annual gifts are a critical resource for the nonprofit organizations they support. Designated funds name specific nonprofits that are the beneficiaries of their grants and ensure that support in the donor’s name continues in perpetuity.
Creating a designated fund is best when you have supported select organizations for years and want that support to continue forever.
Creating a designated fund is best when you have supported select organizations for years and want that support to continue forever.
Scholarship Funds
A scholarship fund provides students with educational dollars according to specific criteria, such as field of study or geographic area. When a donor establishes a scholarship fund, they can choose the name of the scholarship, the eligibility criteria, and the award amount. The Community Foundation manages all fiscal and administrative aspects of the fund, including the application, selection, and award processes.
Create a scholarship fund if you are passionate about supporting students in the pursuit of their educational goals.
Create a scholarship fund if you are passionate about supporting students in the pursuit of their educational goals.
Corporate Funds
A corporate fund can be a donor-advised, field of interest, unrestricted, or designated organization fund created to facilitate corporate philanthropy. If you own your business, have substantial holdings in closely held stocks, or are charged with managing your corporation’s charitable giving, giving through the Community Foundation offers tax advantages, eliminates record keeping and administrative hassles, and gives your business access to the guidance of our professional staff for both grant making and gift planning.
- Donate cash or other business assets. Contributions are tax deductible and you can make additional donations at any time. Making larger donations in more profitable years helps reduce your dependence on annual cash flow to sustain corporate giving levels.
- Decide which requests for support to fulfill and recommend those grant recipients. Or, allow the Foundation to assist in setting up your own grant program, managed by the Foundation.
- The Foundation handles all administrative paperwork, legal and audit fees, and correspondence with grant recipients.
- Our efficient administration of your giving program means more of your charitable resources are directed into the community.
